Stocks of Infinera Corp. (NASDAQ:INFN) traded higher last session on Wall Street, down -6.04% to $5.13.
INFN stock price is now -1.54% away from the 50-day moving average and 14.66% away from the 200-day moving average. The market capitalization of the company currently stands at $1.19B.
Top 5 Artificial Intelligence Stocks to Buy for 2024
By now, you're well aware of the artificial intelligence boom. You know Big Tech has been investing billions of dollars into it.
According to Next Move Strategy Consulting, the AI market – currently valued at about $100 billion – cold grow twenty-fold by 2030 to more than $2 trillion. That means you may want to strongly consider these top AI stocks. Get our free report, "Top 5 AI Stocks to Buy in 2024."
Click here to automatically get the our FREE Report & Special Offer "5 Best AI Stocks to Invest In"
Sponsored
With the price target of $7, Stifel recently initiated with Buy rating for Infinera Corp. (NASDAQ: INFN). , while ‘MKM Partners’ rates the stock as ‘Buy’
In other news, Fernicola Michael H, Chief Accounting Officer bought 4,000 shares of the company’s stock on Aug 17 ’23. The stock was bought for $16,000 at an average price of $4.00. Upon completion of the transaction, the Chief Accounting Officer now directly owns 111,558 shares in the company, valued at $0.57 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Aug 16 ’23, Chief Accounting Officer Fernicola Michael H bought 6,500 shares of the business’s stock. A total of $25,350 was incurred on buying the stock at an average price of $3.90. This leaves the insider owning 107,558 shares of the company worth $0.55 million. A total of 1.16% of the company’s stock is owned by insiders.
During the past 12 months, Infinera Corp. has had a low of $2.82 and a high of $7.39. As of last week, the company has a debt-to-equity ratio of 4.09, a current ratio of 1.69, and a quick ratio of 0.95. The fifty day moving average price for INFN is $5.21 and a two-hundred day moving average price translates $4.47 for the stock.
The latest earnings results from Infinera Corp. (NASDAQ: INFN) was released for Sep, 2023. According to the Communication Equipment Company, earnings per share came in at $0.08, beating analysts’ expectations of $0.04 by 0.04. This compares to -$0.05 EPS in the same period last year. The net profit margin was -0.28% and return on equity was -3.13% for INFN. The company reported revenue of $392.37 million for the quarter, compared to $390.45 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 0.49 percent. For the current quarter, analysts expect INFN to generate $443.63M in revenue.
